Circle, Nomura Partner for Instant FX Settlement Business: Report

Stablecoin issuer Circle and Japan's largest investment bank Nomura have partnered to enable instant foreign exchange settlement for Japanese companies as early as 2027. The service would enable companies to convert yen into dollar-denominated stablecoins for cross-border transactions and instant settlement, reducing delays caused by banking hours and time zone differences.

The partnership would bring one of the world's largest dollar stablecoins into Japan's corporate foreign exchange market, expanding the use of stablecoins for business-to-business cross-border settlement. Circle is the issuer of USDC, the world's second-largest stablecoin, with a market capitalization of $73.8 billion, CoinMarketCap data shows.

Stablecoin initiatives in Japan have been accelerating as financial institutions explore regulated blockchain-based settlement. SBI Holdings and Startale Group announced JPYSC, a trust bank-backed yen stablecoin for institutional and cross-border settlement, while Ripple USD (RLUSD) officially launched in Japan.

Japan

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